It seems the savings on Hive have become even more awesome. The HBD part to be exact. Where we used to get 12% APR on each HBD save we are now getting 20%. I just noticed this today when I saw that my interest for this month was a bit more than the expected 1% of the total HBD saved. I'm not sure why this was done. Probably to bring even more stability to Hive and its economy in the process. More people incentivized to keep their funds on the platform to work for them, means that the HIVE price is stable, and therefore the platforms economic situation.
For now this is definitely a win-win opportunity in my opinion. A good strategy would be to pick a target amount you want saved and then spend all the extra interest gained on other investments, whether that be on Hive or somewhere outside of the platform. Assuming that this APR between 12 and 20% keeps up long term, HBD savings can become a good source of extra cashflow to some of us.
Personally I can definitely see that becoming a reality. Right now I would average about $10 a month just from interest alone. That may not be a lot in the developed world, but here where I live it's about at least 5% of the average monthly wage. That's also not much, lol. Although it would pay my electricity bill.
But then again, with local banks offering 0.25% annually on USD and "stealing" more under the guise of fees, I'd go with 20% on HBD savings any day. If this is a long term thing, all of us savers will be having a good time next year.
So, what is your experience with HBD savings?
[ Uniquely Clever Sign Out Message Goes Here ]
Posted Using LeoFinance Beta
